SKF CEO Says Demand as Forecast, Wary on Mix Impact

Resource from: CBCC Likes:2933

Mar 15,2010

SKF (SKFb.ST), the world's biggest bearings maker, said on Friday demand had developed in line with its outlook of "slightly" higher activity so far in the first quarter and that it was raising prices in all major markets. "Overall for the group I'd say that volume will be broadly where we thought it would be," SKF Chief Executive Tom Johnstone said in a Reuters interview. "But with Automotive a little bit better, and maybe with Industrial still not kicking in the way we expect. It's taking a little bit longer in especially the heavy industry areas." Johnstone said the group was raising list prices in all major markets and that it still aimed for a positive impact from pricing and mix on sales in the first quarter, though he pointed to uncertainty due to the relative weakness of the group's higher-margin industrial business.

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